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Mar 25, 2013
03/13
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the government stopped it. that didn't happen in history. let the government keep doing this. they will keep it going as long as they can. >> we didn't have it. >> they will fail. they will fail. i will make that prediction. >> you'll never make money betting against america. >> i'm not betting against america. i'm the most bullish person in the world for the last 20 years. i'm betting against artificial stimulus by a government gone nuts. that's what i'm betting against. >> the government will pull out. >> one at a time. nathan, go ahead. >> look, the government is going to pull out. i'm arguing with santelli about this. i'll tell you what will happen. over time the government will stop buying as many bonds as the private sector moves in. you'll eventually get a full private sector economy. unfortunately it's going to take a while because we are, i'll agree with you on this, we're in a deep hole right now, no doubt about it. >> if they do it gradually to nathan's point, harry, doesn't it actually turn out -- if the government feels as though the market and the economy is heal
the government stopped it. that didn't happen in history. let the government keep doing this. they will keep it going as long as they can. >> we didn't have it. >> they will fail. they will fail. i will make that prediction. >> you'll never make money betting against america. >> i'm not betting against america. i'm the most bullish person in the world for the last 20 years. i'm betting against artificial stimulus by a government gone nuts. that's what i'm betting...
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Mar 25, 2013
03/13
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the cypriot government does not have to approve the deal. is that not weird it you in the biggest worry to me is the effect of this whole union of the think banking commit pep steve liesman was talking about it this morning and i think he's right. there will be people slowly moving deposits out of the higher risk countries and maybe into the u.s. and the uk, as well. here's what to look for. april 4th and that's the ecb meeting. watch what mario draghi has to say about that and that he'll make liquidity more available to banks. remember those ltros that they did about a year ago. don't be surprised that they dragged those things out again and everybody was talking about the weak top line growth. there is the company that has to be the envy for everybody looking for top line growth. their projected sales for 2014 and 10% to 12% increase and take out all of the new stores and same-store sales growth, 4% to 6% and those are really good numbers and that stock's up today sitting at a six-month high and i want to see a big welcome to people on the
the cypriot government does not have to approve the deal. is that not weird it you in the biggest worry to me is the effect of this whole union of the think banking commit pep steve liesman was talking about it this morning and i think he's right. there will be people slowly moving deposits out of the higher risk countries and maybe into the u.s. and the uk, as well. here's what to look for. april 4th and that's the ecb meeting. watch what mario draghi has to say about that and that he'll make...
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Mar 25, 2013
03/13
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you are seeing allowing governments to come in and confiscate assets of people and that is alarming. so with that, if you take a look back out at that emotional drama, is what we're seeing, gold is extremely oversold over 10 years of data points. gold is down two standard deviati deviations. mathematically it will rally. i was on your show and it was up two standard deviations and i caution that it could correct. there is something that could take place. and there is nothing stopping gold as being a safe haven. we have always advocated a 5% in bouillon and gold stocks. when the rallies take place they are substantial. >> where would you say is fair value for gold? >> it all depends on who you are looking at. some believe that inflation, gold should be around $2400 an ounce. gold should be around $7,000 an ounce. if you're a hard core gold bug they are talking $5,000 an ounce. for me, gold would go back to inflation adjusted price level and it will probably test $2400. >> but not to play the devil's advocate here but if you can't get gold to valrally, even with central banks washing u
you are seeing allowing governments to come in and confiscate assets of people and that is alarming. so with that, if you take a look back out at that emotional drama, is what we're seeing, gold is extremely oversold over 10 years of data points. gold is down two standard deviati deviations. mathematically it will rally. i was on your show and it was up two standard deviations and i caution that it could correct. there is something that could take place. and there is nothing stopping gold as...
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Mar 23, 2013
03/13
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just getting a permit from the government can take many years, especially since nobody wants a refinery in their backyard. it can take two to three years when already cited or the time frame to do the build-out. that's why a refinery has not been built in the united states since 1976 and why you rarely see any large scale expansions of existing refineries because it is tough to invest in a business to wait six years before you get paid back. they are protected from outside competition and the way the industry works they are protected from each other. since no one spends billions to undercut the others on price, hey, there's not any price wars. and to me that's exactly what we look for in a slap happy oligopoly. let me throw in the fact in the last three years, we have seen, and this is why it's so profitable, we have seen an explosion in domestic oil and gas production. the shale fines, many people have been surprised by the newfound oil that the price at the pump has not come down and gotten cheaper. you know why that hasn't happened? one of the big reasons is that the gains from our c
just getting a permit from the government can take many years, especially since nobody wants a refinery in their backyard. it can take two to three years when already cited or the time frame to do the build-out. that's why a refinery has not been built in the united states since 1976 and why you rarely see any large scale expansions of existing refineries because it is tough to invest in a business to wait six years before you get paid back. they are protected from outside competition and the...
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Mar 18, 2013
03/13
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stood behind the irish government. that's not happening now. it's sharing and the fear that the semien bondholders will hold it going forward and ranked in the same way as positive bondholders in the structure. the point i want to make here very importantly, this has not been a bad day for sovereign debt in europe. those yields have not risen substantially, because at the margin, this takes the pressure off the sovereign in baling out the banks. michelle, back to you. >> all righty. thank you very much. simon hobbs. you hear him talking about senior bondholders in europe might take a hit. any of you trading european banks at this point. >> no. >> because of that? >> i wouldn't trade the french banks because france is as close to socialism you're going to get over there. if anybody is going to do it, it's going be them and why they're down 5% today. no point in playing european banks when you have such value in european banks without the risk. >> if you are playing banks on europe, you have the ability to look at the lo
stood behind the irish government. that's not happening now. it's sharing and the fear that the semien bondholders will hold it going forward and ranked in the same way as positive bondholders in the structure. the point i want to make here very importantly, this has not been a bad day for sovereign debt in europe. those yields have not risen substantially, because at the margin, this takes the pressure off the sovereign in baling out the banks. michelle, back to you. >> all righty. thank...
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Mar 22, 2013
03/13
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italy will have drama trying to form a government. 14,514, what we need to get positive on the week. 14 points short. believe it or not, the worst week all year. that's how strong we've been. the dow up 11% almost for the year. take a look at the media stocks. bill grifr it and i were talking, the ceo of hbo talked about unbundling it. guys make too much money keeping the bundles together. time warner is up, comcast is up and netflix down, a negative for them. this is a great idea but don't expect it to happen any time soon. steel stocks, could it get any worse? ak steel lowered their eps guidance, a ten-year low for ak steel. horrible for the steel companies overall. finally, good day for the earnings. mike ron, nike, good ones with tiffany as well, but remember, mandy, oracle and, of course, caterpillar and, of course, federal express. hard to get rid of those three earlier in the week. back to you. >> absolutely. by the way, you mentioned ak steel. we'll be talking about resources stocks later on in the show. >> well, to cyprus where things are starting to get real. cash is runnin
italy will have drama trying to form a government. 14,514, what we need to get positive on the week. 14 points short. believe it or not, the worst week all year. that's how strong we've been. the dow up 11% almost for the year. take a look at the media stocks. bill grifr it and i were talking, the ceo of hbo talked about unbundling it. guys make too much money keeping the bundles together. time warner is up, comcast is up and netflix down, a negative for them. this is a great idea but don't...
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Mar 22, 2013
03/13
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you know, if the company is doing fine, there's no governance issues, you don't have a problem. if you've got a problem, it's time to separate the two. >> exactly. >> by the way, i forgot to wish you happy world water day. >> oh, thank you so much. and to you as well. >> thank you so much. no one has the day off, there are no hallmark cards for this day, but this is an opportunity to look at companies that are looking to conserve water and make money doing it at the same time. >> yes, it is. and bertha coombs has the story of an oil man using water no one can ever use again for fracking. bertha? >> that's right, maria. the drought in texas is now entering its third year and it's grown more severe as the water-intensive fracking boom has exploded in the lone star state. you can see the orange and the red, that's extreme drought in 90% of the state. now, a couple of oil and gas veterans think they've found a win-win solution. tiny alpha solutions is tapping into the one source of water that is growing in texas, municipal waste water. they've contracted to buy the effluent that's n
you know, if the company is doing fine, there's no governance issues, you don't have a problem. if you've got a problem, it's time to separate the two. >> exactly. >> by the way, i forgot to wish you happy world water day. >> oh, thank you so much. and to you as well. >> thank you so much. no one has the day off, there are no hallmark cards for this day, but this is an opportunity to look at companies that are looking to conserve water and make money doing it at the same...
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Mar 22, 2013
03/13
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the government is reconvening today. cyprus' finance minister flying back after two days of talks after they failed to deliver the deal to rescue the country. our chief international correspondent michelle caruso-cabrera live in nicosia, cyprus. >>. >> reporter: the drama convincing right now is convincing parliament to sit down and actually vote to give the central bank of this country the authority to resolve banks. in other words, to wine down the troubled banks here in the country. right now there is a proposal on the table that would allow him to do that. that would mean that the weakest bank in the country nike would be wound down. the good assets moved to a different bank. there are protesters to my left who do not like that proposal at all. since i last saw you the head of the bank was brought here to hear what would happen. we had a long discussion about what was going happen and then i asked him a lot of questions about the history of like and how is it that how on earth we even got to this place. should his ba
the government is reconvening today. cyprus' finance minister flying back after two days of talks after they failed to deliver the deal to rescue the country. our chief international correspondent michelle caruso-cabrera live in nicosia, cyprus. >>. >> reporter: the drama convincing right now is convincing parliament to sit down and actually vote to give the central bank of this country the authority to resolve banks. in other words, to wine down the troubled banks here in the...
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Mar 20, 2013
03/13
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therefore, we will be looking at fresh elections in june and a caretaker government until then. which if you're an american investor is like a get out of jail free card. >>> meanwhile, the home builders are rallying into the close. check out the guys,ys,oe simmon, all gains. george osbourne here has given his annual budget. he told the bank of england to do more to stimulate the u.k. economy. 2% is a target, it's not enough. he wants more extraordinary measures. in other words, he wants more qe. don't forget the bank of canada's governor is taking over the bank of england in june. what's interesting is that the recent bank of england meetings actually they have rejected the idea of more qe above half a trillion u.s. dollars for fear of what it might do to sterling. this is important going forward. look at the decline this year that you have had for sterling against the dollar compared to the decline that you have had on the euro. it's a much bigger fall. it's a much smaller economic area. beware of sterling crisis in 2013. scott, back to you. >> thanks so much for that. so what
therefore, we will be looking at fresh elections in june and a caretaker government until then. which if you're an american investor is like a get out of jail free card. >>> meanwhile, the home builders are rallying into the close. check out the guys,ys,oe simmon, all gains. george osbourne here has given his annual budget. he told the bank of england to do more to stimulate the u.k. economy. 2% is a target, it's not enough. he wants more extraordinary measures. in other words, he...
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Mar 20, 2013
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we're scared of how the government keeps putting money in people's market. the government trumped 2.4 million jobs and they didn't talk about the 1.9 million people on food stamps and snap program. so we're just very, very cautious. >> you're a new york, l.a. california guy. >> i'm not sure where this is going. >> you're not drinking the kool-aid on the big government? >> no. >> steve, thank you for being here. >> it's been a lot of fun. >> thank you. make sure you join us tomorrow. "squawk on the street" begins right now. ♪ ♪ ♪ >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with jim kramer and scott wapner. carl quintanilla and david faber have the week off. let's take a look at how we are setting up in the united states. we are looking at a strong open higher and the dow up at 79 points and yesterday we did see signs of life and the dow surging late in the session and the dow looking to snap that three-day losing streak. as for europe, both stocks and the euro seeing some relief. we do have a bounce here, a nice one, i
we're scared of how the government keeps putting money in people's market. the government trumped 2.4 million jobs and they didn't talk about the 1.9 million people on food stamps and snap program. so we're just very, very cautious. >> you're a new york, l.a. california guy. >> i'm not sure where this is going. >> you're not drinking the kool-aid on the big government? >> no. >> steve, thank you for being here. >> it's been a lot of fun. >> thank you....
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Mar 19, 2013
03/13
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so i think this new government is a real plus for changes in the chinese government that will be a big advantage, especially in the economics in the area of currency convertibility. i think you're going to see a lot of opening up of the chinese capital markets over the next coming years. >> and is on that score, if you're lew, how do you approach that issue, currency? >> well, the u.s. has always been pressing for opening of the capital markets, partly because the u.s. represents have had backing from wall street and the investment banks. but now, the chinese have a reason to do it on their own. they have $3.5 trillion worth of foreign reserves. they have to find a way toni vest those assets over the coming decades. they have to be invested in other countries in order to not put pressure on the currencies, which means they need cooperation of government. the u.s., in turn, needs the chinese government to continue holding the debt that they own and, as we can see from projection would be to buy a lot more of it. i think both of those things will happen. but currency, cop veteranbility,
so i think this new government is a real plus for changes in the chinese government that will be a big advantage, especially in the economics in the area of currency convertibility. i think you're going to see a lot of opening up of the chinese capital markets over the next coming years. >> and is on that score, if you're lew, how do you approach that issue, currency? >> well, the u.s. has always been pressing for opening of the capital markets, partly because the u.s. represents...
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Mar 18, 2013
03/13
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that's going to be tougher to sell to local governments. might be able to tax them even if it's a remote possibility it makes that european banking union tougher. let's look at what's on the upside and it's all the sort of risk/loss kind of things. gold is up. metal and mining stock is up. long-term treasuries are up. all the bond etfs are to the upside. biggest corporate bond, lqd. all of them are on the upside. not a surprise but fairly modest moves for them as you can see. >> thank you. >>> all right. let's go to check on energy and commodities. sharon epperson at the nymex. >> definitely. that's what where the safe haven bid is. gold prices up 1700 an ounce. we got as high as 1610 an ounce. they say that is the number gold needs to close above to sustain any upward momentum here. we're still looking at $11 gain or so in the gold price. we're also keeping an eye on what's happening in other metals because copper, it's a far different story. copper continues to be one of the worst performing commodities of the day, considering what has ha
that's going to be tougher to sell to local governments. might be able to tax them even if it's a remote possibility it makes that european banking union tougher. let's look at what's on the upside and it's all the sort of risk/loss kind of things. gold is up. metal and mining stock is up. long-term treasuries are up. all the bond etfs are to the upside. biggest corporate bond, lqd. all of them are on the upside. not a surprise but fairly modest moves for them as you can see. >> thank...
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Mar 26, 2013
03/13
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a big part has to do with aircraft and how the government counts it and the delivery by boeing. if we look at nondefense. minus 3.2. plus 95% in february. so i don't know if they delivered a lot of planes or the government just wanted the planes they delivered. in general, the business investment proxy has been doing quite well. it's minus 2.7. rick is correct. it's about a point and a half worse than expectations. but we did have the 6.7% jump in january. it seems we're still on track for business investment to add to gdp in the first quarter. i don't know if mr. darst has capital goods companies and whether or not they have been a good play. >> we like the industrials. they have a global guerrilla expect. you want to look at hiring. you want to look at the fourth piece. profits. so we're wondering whether they're going to come through. they start the earnings season very shortly. and this is connected to the goods orders. thirdly, personal income. that's the wages you show over there in the survey. wages are just hang anything there. finally, political developments as the same
a big part has to do with aircraft and how the government counts it and the delivery by boeing. if we look at nondefense. minus 3.2. plus 95% in february. so i don't know if they delivered a lot of planes or the government just wanted the planes they delivered. in general, the business investment proxy has been doing quite well. it's minus 2.7. rick is correct. it's about a point and a half worse than expectations. but we did have the 6.7% jump in january. it seems we're still on track for...
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Mar 18, 2013
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they don't have a government. they're, in my view, unlikely to get a stable government for some time to come and they've got a hell of a lot of debt, about 130% of gdp. and there has been discussion there of having a wealth tax in order to try to reduce that huge debt burden of the italian state. that doesn't mean they have to have a deposit tax. there are other ways of having wealth taxes, which will be preferable. but that certainly is, i think, the biggest fallout risk from this. >> and is we're seeing that play out across markets. and you think as you've written that this amounts to legalized bank robbery. >> yes. >> what's happening in cyprus is an extraordinary and new and it sounds like something that should be illegal from your point of view. >> yes. what they've done is -- what they've done is they've found a work around. the deposit guarantee scheme. thee receipt cannily, up to 100,000 euros, you are guaranteed in cyprus. but what the government has done is taxed themselves them itself. and i think that'
they don't have a government. they're, in my view, unlikely to get a stable government for some time to come and they've got a hell of a lot of debt, about 130% of gdp. and there has been discussion there of having a wealth tax in order to try to reduce that huge debt burden of the italian state. that doesn't mean they have to have a deposit tax. there are other ways of having wealth taxes, which will be preferable. but that certainly is, i think, the biggest fallout risk from this. >>...
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Mar 22, 2013
03/13
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the government could not rescue the banking system. there should have been losses accrued to the critters of the banks who took risk webs but there was a formula where they tried to sort of keep everybody more or less unhappy, but they created a very bad package which, obviously, is proving untenable. they're not going to have to fix it. >> but how can they fix it? >> well, the eu has given the cypriots up until next monday to come up with an alternative because apparently this package of 6.5% for those below 100,000 and 9.9% to those above is 00,000 was something that was decided by the cypriot authorities. for whatever reason led them to do that, it clearly was a bad idea because if you have the implicit guarantee those that have 100,000, remember, this is not a loss. it's a tax. so theoretically, authorities have the authority to actually collect taxes on whatever. except it is being perceived as an ex appropriation of the savings. so -- but this is cypriot. this is a cyprus problem. don't extend it to the euro. the euro is not in d
the government could not rescue the banking system. there should have been losses accrued to the critters of the banks who took risk webs but there was a formula where they tried to sort of keep everybody more or less unhappy, but they created a very bad package which, obviously, is proving untenable. they're not going to have to fix it. >> but how can they fix it? >> well, the eu has given the cypriots up until next monday to come up with an alternative because apparently this...
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Mar 25, 2013
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if it just goes to the government, there's a feeling of a black hole. i have a good understanding where that black hole is when 70% of the budget is medicare and medicare and social security on the debt. >> at cnbc we had the depends that will rise above, trying to initiate our elected officials in washington to make a difference, to make things happen and to get things done rather than bickering with each other automatic the time. >> they have become hostile tribes rather than people with different opinions. that's frustratinfrustrating. that's why i continue to push this issue because as an entrepreneur, it very much frustrates me what happened there. >> so you would not make it voluntary, not give tax credit but require corporations to -- instead of raising taxes, to spend it on hiring? >> yeah, because the amount of money i'm going to spend on a tax increase would pay for hiring those people and then they're part of the economy. they're part of the system. they feel included. and we've done something positive as to when i know 70% of where the money
if it just goes to the government, there's a feeling of a black hole. i have a good understanding where that black hole is when 70% of the budget is medicare and medicare and social security on the debt. >> at cnbc we had the depends that will rise above, trying to initiate our elected officials in washington to make a difference, to make things happen and to get things done rather than bickering with each other automatic the time. >> they have become hostile tribes rather than...
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Mar 26, 2013
03/13
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averting a government shutdown. the funding bill includes $85 billion in across-the-board sequester spending cuts. nobody wanted to do them, but here they are. >> guy benson, the great part of the president's signing today, as jay carney made very clear, they obds to the bill and they objected to the sequester inside the bill. they made that -- spent more time disagreeing with the bill they signed than supporting it. >> it's called a signing statement, which the president ran, saying he would never do. because it's a cynical ploy that only the past people do that sort of thing. and now he's president, surprise, these signing statements. but sequester is his idea, and this new continuing resolution, which funds the government through the end of the fiscal year locks in those spending reductions, which are minuscule, but they at least exist and are real. and i think that's a good thing. >> and i'll say this, chris. even though i want a pro-growth message, not a green eye shade message, i favor the sequester. i think t
averting a government shutdown. the funding bill includes $85 billion in across-the-board sequester spending cuts. nobody wanted to do them, but here they are. >> guy benson, the great part of the president's signing today, as jay carney made very clear, they obds to the bill and they objected to the sequester inside the bill. they made that -- spent more time disagreeing with the bill they signed than supporting it. >> it's called a signing statement, which the president ran,...
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Mar 21, 2013
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the president there is still trying to form a government, beating berlusconi. today another potential leader. the word from our local partners in milan is he might ultimately try to pick a public figure to run a technocrat government which means we won't get elections until november, but that could also move markets in addition to cyprus. you know, scott, just as i throw back to you, the interesting thing here overall with cyprus with the role at the ecb. on the one hand, spain was automobile to auction 4.5 billion euros of debt because of the backstop and conversely it's saying cyprus will withdraw your funding after the weekend if you don't do a deal. back to you. >> simon hobbs, bk, simon is not overstating it at all. the numbers out of europe were awful. >> atrocious. particularly france. >> are we not paying as much attention as we should to that? >> the u.s. market is not and u.s. investors should pay attention to that. the europe is 25% of the global economy. it's china's largest customer, so when we talk about all these things and we talk about whether
the president there is still trying to form a government, beating berlusconi. today another potential leader. the word from our local partners in milan is he might ultimately try to pick a public figure to run a technocrat government which means we won't get elections until november, but that could also move markets in addition to cyprus. you know, scott, just as i throw back to you, the interesting thing here overall with cyprus with the role at the ecb. on the one hand, spain was automobile...
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Mar 19, 2013
03/13
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whether it's gas prom or the russian government or russian finance industry, i have no idea. maybe you do. but it also occurs to me, we know -- we've had reports, including last evening on this program, russian people are really money launders in cyprus. and, in fact, they're sort goods and service evil launders, too. they unload and load stuff that goes to iran, stuff that goes to syria. i mean, it's really bad stuff. so i just had this thought. if russia gas prom or whoever can run the cypriot banks, that would leave them in a position, the russians, to keep the record-keeping nice and sloppy. so no one really knows what the hell is going on. it wouldn't be anything to do with the ecb. or germany or somebody that might be more appropriate. this would keep it nice and sloppy, wouldn't it, don jensen? >> yes, i'm glad you mentioned that, a national security angle too, the european press has said they use cyprus banks to fund the assad regime. the other thing i wanted to mention, larry, since the beginning of the year, putin has wanted to reduce the exposure of russian oil gar
whether it's gas prom or the russian government or russian finance industry, i have no idea. maybe you do. but it also occurs to me, we know -- we've had reports, including last evening on this program, russian people are really money launders in cyprus. and, in fact, they're sort goods and service evil launders, too. they unload and load stuff that goes to iran, stuff that goes to syria. i mean, it's really bad stuff. so i just had this thought. if russia gas prom or whoever can run the...
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Mar 21, 2013
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government -- u.s. economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just setting up my twitter. since then the media giant has become a staple for millions. it has transformed the way people communicate so what could twitter do in the next seven years? tweet us @squawkstreet. >>> the market is accelerating downward, now down 67 points. let's get a "market flash" from josh back at hq. >> juniper networks is under pressure this morning. analysts at fbr not fans saying we are the end of an era as routers and switches are set to decline. fbr downgrades juniper and cisco toeon perform. the company's fbr sa
government -- u.s. economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first...
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Mar 18, 2013
03/13
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so the government has been signaling other moves in other stocks. so i like to buy things on a bargain when i go shopping. now is a great time to sit and do fundamental analysis. >> that is the huge caveat. this is not going and picking randomly through stocks. you have to really know the stuff inside out before you get involved. >> you have to do work to make money. what a concept. no, i agree. >> do you like french banks. >> i don't have any particular view on one general sector. it's bank by bank by bank. there's no easy trade here. >> are there any banks that you like in france. >> i don't have any off the top of my head right now. there's an italian company with 17% of the revenue comes from italy. so it's going to get sold down in the italian market. a german robotics company. a lot of revenue comes from outside the eu. it is giving a sale. it's really a great find. >> any hedging currency based on the dollar to the euro? >> yes. we go long and short. so on the net currency we tend to hedge it, yes. >> when you compare europe to the united sta
so the government has been signaling other moves in other stocks. so i like to buy things on a bargain when i go shopping. now is a great time to sit and do fundamental analysis. >> that is the huge caveat. this is not going and picking randomly through stocks. you have to really know the stuff inside out before you get involved. >> you have to do work to make money. what a concept. no, i agree. >> do you like french banks. >> i don't have any particular view on one...
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Mar 19, 2013
03/13
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CNBC
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melissa, back to you. >>> what would you do if the government planned to tax you? it could become a reality parliament will take you on the ground and get reaction from the people of cyprus. that's next. ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. >>> hundreds, as you see there, protesting in cyprus just minutes before parliament begins debate on taxes. p he helps run his family's auto parts business there. >> caller: yes. hello. >> what has it been like? have you and your friends, your colleagues, been going to the banks and withdrawing money? >> well, things here are very crazy right now. everybody is very anxious. everybody is waiting to see what the decisions are going to be. even people who tried in the beginning to take money out, they coul
melissa, back to you. >>> what would you do if the government planned to tax you? it could become a reality parliament will take you on the ground and get reaction from the people of cyprus. that's next. ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now...
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559
Mar 24, 2013
03/13
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CNNW
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eye 559
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government should spend to spur growth. let's look at interest rates. >> yes. >> a lot of projections when they go forwarded are assuming that interest rates will stay low. if you look at the ten-year treasury yield over the '90s averaged 6%. the last seven, eight years, 4%. it is currently less than 2%, as you know. >> right. >> the possibility of interest rates staying as low as they are now is highly unlikely, and that as interest rates rise, yes, the economy will recover but the interest payments on the much larger debt become crushing. >> a couple of things there. first of all, as long as the economy remains weak interest rates will remain low. if the economy gets stronger interest rates will go up but also if the economy gets stronger we will have more revenue and then i start to become a deficit hog. by no means am i saying we have to stay in this expansion mode under all reasons. the idea that we will be facing higher rates is belied by history. look at japan. they have been running deficits twice the debt burden th
government should spend to spur growth. let's look at interest rates. >> yes. >> a lot of projections when they go forwarded are assuming that interest rates will stay low. if you look at the ten-year treasury yield over the '90s averaged 6%. the last seven, eight years, 4%. it is currently less than 2%, as you know. >> right. >> the possibility of interest rates staying as low as they are now is highly unlikely, and that as interest rates rise, yes, the economy will...
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Mar 21, 2013
03/13
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CNNW
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they have become a police force governing the terrorists. allen, let me finish. they have become a police force governing the territories. but they've gotten no payment back. and this issue is bigger than the west bank. it's about palestinian nationhood, about the right of palestinians to have the same respect as a nation that israel demands for itself. and frankly, that's not on the table. i would say to you that what the u.s. has to do, when the president is done with this trip, come back, hopefully earning the confidence of the israeli people, trying to restore some confidence on the palestinian side, which is lost right now. and then refashion a middle east peace initiative that gives some hope to both sides. right now palestinians don't feel hope at all. >> okay. let me ask you both very quickly and i'll start with you, james zogby, very quickly, if i may. are you optimistic within five years there could be a peace deal? >> well, we did a poll on that. and what we found is that palestinians themselves are hopeful that in five years a peace deal could be done
they have become a police force governing the terrorists. allen, let me finish. they have become a police force governing the territories. but they've gotten no payment back. and this issue is bigger than the west bank. it's about palestinian nationhood, about the right of palestinians to have the same respect as a nation that israel demands for itself. and frankly, that's not on the table. i would say to you that what the u.s. has to do, when the president is done with this trip, come back,...
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Mar 22, 2013
03/13
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CNNW
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the blast left 49 people including a leading sunni cleric who supported assad's muslim government. >>> prepare for takeoff, prepare for takeoff or just prepare to be arrested. a man pretending to be a pilot makes his way all the way to the cockpit. we'll tell you how he got there and what tipped the crew off next. [ male announcer ] when you wear dentures you may not know that your mouth is under attack, from food particles and bacteria. try fixodent. it helps create a food seal defense for a clean mouth and kills bacteria for fresh breath. ♪ fixodent, and forget it. ...and we inspected his brakes for free. -free is good. -free is very good. [ male announcer ] now get 50% off brake pads and shoes at meineke. >>> this is it, this is the blackberry z-10, goes on sale in the united states today. i'm ali velshi. this is your money. here's what i think of it. >> there is no buttons on the blackberry. >> no buttens may not be news to you, but it is big new for blackberry users. many of whom won't know what to make of the z-10. canada's blackberry is counting on this totally virtual phone
the blast left 49 people including a leading sunni cleric who supported assad's muslim government. >>> prepare for takeoff, prepare for takeoff or just prepare to be arrested. a man pretending to be a pilot makes his way all the way to the cockpit. we'll tell you how he got there and what tipped the crew off next. [ male announcer ] when you wear dentures you may not know that your mouth is under attack, from food particles and bacteria. try fixodent. it helps create a food seal...
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Mar 19, 2013
03/13
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CNNW
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these are propaganda videos put out by the government. but they're new. and just this week north korea said they could launch a preemptive nuclear strike against the united states. i mean you're on the intelligence committee. should the united states be seriously preparing for something even if it's a dirty bomb placed in an american city or is this all bluster? >> look, we have to be very serious about any threat attacking the united states or killing american citizens. and also as it relates to south korea, 100% with south korea. they're our allies and we need to also stand behind them. now kim jung um is a young, immature leader. he is 28 years old. he is now in charge of a government and a country that will not allow his own people to leave the country. they're treated terribly in a bad situation and he's the type of individual that really concerns us. we don't know what he's like. he's immature. he has no experience in rung government. one day his father died and he becomes the leader. we know that north korea for a long period of time, their whole m
these are propaganda videos put out by the government. but they're new. and just this week north korea said they could launch a preemptive nuclear strike against the united states. i mean you're on the intelligence committee. should the united states be seriously preparing for something even if it's a dirty bomb placed in an american city or is this all bluster? >> look, we have to be very serious about any threat attacking the united states or killing american citizens. and also as it...
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Mar 18, 2013
03/13
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CNNW
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he has no experience in rung government. one day his father died and he becomes the leaderment we know that north korea for a long period of time, their whole mode of operation basically is threatening. but we also know that they're dangerous. they have nuclear weapons. they have ballistic missiles. and we have to take that very seriously. the secretary of defense hagel took a position that we're going to improve and add more defense to any type of missile that can come on the west coast of the united states, alaska and also california. >> i want to ask you about that. first, the deputy secretary of defense is in seoul today for the joint military exercises i referenced. he said north korea's threats would deepen the commitment to seoul and that u.s. budget cuts wouldn't alter our defense of south korea. we have 30,000 troops in seoul, second only to afghanistan. that is a massive commitment. with all the cullbacks in the defense department, isn't this a scenario that has to be up for trimming just by definition. >> we have
he has no experience in rung government. one day his father died and he becomes the leaderment we know that north korea for a long period of time, their whole mode of operation basically is threatening. but we also know that they're dangerous. they have nuclear weapons. they have ballistic missiles. and we have to take that very seriously. the secretary of defense hagel took a position that we're going to improve and add more defense to any type of missile that can come on the west coast of the...
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Mar 22, 2013
03/13
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CNNW
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dow has turned around after the cyprus government says they are in "hard negotiations" with the imf and european central bank about the $13 billion bailout. they face a monday deadline. >>> a big day for blackberry. the z10 goes on sale today. expectations high. $200, going head-to-head with the iphone and galaxy. the operating systems of iphone and samsung make up over 70% of the market. blackberry, 3%. the future of the company rides on what the people think about what they think about the z10. a choice of lot of corporations. they have thousands of employees who have this device. >> the galaxy, that would only get me to switch from the iphone. >> i don't want to interrupt the discussion right now, but a major trending story. the star of groundhog day. not bill murray, but pu punxsutawney phil is being sued by a prosecutor. the charge? misrepresentation of an early spring. joining us by telephone, i believe tongue firm until cheek, michael moser, prosecutor in butler county, ohio. you are suing. please explain the justification. >> this is an indictment. kral charge against punxsutawn
dow has turned around after the cyprus government says they are in "hard negotiations" with the imf and european central bank about the $13 billion bailout. they face a monday deadline. >>> a big day for blackberry. the z10 goes on sale today. expectations high. $200, going head-to-head with the iphone and galaxy. the operating systems of iphone and samsung make up over 70% of the market. blackberry, 3%. the future of the company rides on what the people think about what they...
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Mar 21, 2013
03/13
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CNNW
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is not a government that was elected to make peace. this was a government that was elected to deal with the special privileges of the orthodox within israeli society. you got the turbulence in egypt. you will have turbulence in jordan. it's -- this is not if you will, again, a prelude to peace. i would just say one thing slightly perhaps different than gloria which is i don't think the united states and israel quite see eye to eye on iran. the president made it clear he doesn't want iran to have a nuclear weapon. the real question is whether the united states and israel can agree on what iran should be allowed short of that. what kind of capacities are tolerable from our and the israeli point of view as opposed to intolerable and i think that's the gray area where there's still some difference. but the president did succeed at kicking this down the road i think to 2014 and all things being equal he has something of the upper hand in the relationship for all the political reasons that have been discussed, mainly his strong re-election a
is not a government that was elected to make peace. this was a government that was elected to deal with the special privileges of the orthodox within israeli society. you got the turbulence in egypt. you will have turbulence in jordan. it's -- this is not if you will, again, a prelude to peace. i would just say one thing slightly perhaps different than gloria which is i don't think the united states and israel quite see eye to eye on iran. the president made it clear he doesn't want iran to...
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311
Mar 18, 2013
03/13
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CNNW
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eye 311
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that's antithetical to your philosophy, which is minority voters largely accept a greater degree of government intervention than republicans can accept. that being said, i want to answer your question directly so i'll offer and you philosophical and policy example. on the philosophical level, you must communicate that the economic philosophy of republicans has caused a massive amount of wealth for everyone. and education is ripe if reform and republican principles are perfect for minority voters. >> should i let you weigh in? >> i'm sorry. >> why are you laughing? >> you're laughing at education. expound upon your laughter on education. >> well, because its s's ridicus to try to think that the party who tried to get rid of the department of education is the one who wants to push education. it's ridiculous to think the tent that wanted to gut the teachers union want to push education. the party that wanted to take funding away from education is now the party in favor of education. that's reason i started laughing. >> those policieses worked well for you over the last 40 years. those schools tha
that's antithetical to your philosophy, which is minority voters largely accept a greater degree of government intervention than republicans can accept. that being said, i want to answer your question directly so i'll offer and you philosophical and policy example. on the philosophical level, you must communicate that the economic philosophy of republicans has caused a massive amount of wealth for everyone. and education is ripe if reform and republican principles are perfect for minority...
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86
Mar 25, 2013
03/13
by
CSPAN
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eye 86
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the public spending framework introduced by the previous government divided government spending the two halves. fixed departmental budgets and was called annually managed expenditure. the annual managed expenditure. in practice it was unmanaged expenditure and that includes almost the entire welfare budget, as well as items like debt interest and payments to the unions. according to the forecast today, the european budget deal by the prime minister has paid britain a total of 3.5 billion pounds. we will now introduce a new limit of the significant proposal of annually managed expenditure, set out in a way that allows the -- allows us to operate that will bring controlled areas of public spending that have been out of control. we will set out how more details of this work -- in the new spending limit at the brown in june. welfare andns on they are tough, and they affect many people. make the difficult decisions for them and the country, it would be much worse. active monetary policy and a responsible fiscal policy are two components of our plan and we need the supply side reform to put t
the public spending framework introduced by the previous government divided government spending the two halves. fixed departmental budgets and was called annually managed expenditure. the annual managed expenditure. in practice it was unmanaged expenditure and that includes almost the entire welfare budget, as well as items like debt interest and payments to the unions. according to the forecast today, the european budget deal by the prime minister has paid britain a total of 3.5 billion...
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Mar 19, 2013
03/13
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CSPAN
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people are not safe in the government is crooked. we use that trade agreement awaiting not deal with people that violate civil rights. exit code needs to clean their act up and they need to be -- mexico needs to clean their act up and they need to be put into a position where they have to help to clean up the border. .uest: debbie is right mexico has tremendous internal problems and i go into el paso, where people are talking with people that go in the car -- go across the border, and i am hearing from mexican citizens that they are trying to clean up the mess in their country. that would stabilize it. trade from the u.s. to mexico is on the uptake right now, so there are positive things happening, but it is an unstable region. host: a quick question about gun control -- the new york -- the "new york times" this morning saying that the colorado governor as a long path to gun limits. as the cochair of the western falcon -- caucus, what do you make of a western state governor looking like he will sign pieces of legislation? guest: i tr
people are not safe in the government is crooked. we use that trade agreement awaiting not deal with people that violate civil rights. exit code needs to clean their act up and they need to be -- mexico needs to clean their act up and they need to be put into a position where they have to help to clean up the border. .uest: debbie is right mexico has tremendous internal problems and i go into el paso, where people are talking with people that go in the car -- go across the border, and i am...
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48
Mar 20, 2013
03/13
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CSPAN2
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eye 48
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the previous government, the previous government borrowed -- [yelling] >> order! order! order! >> we can't have all talk without the year. it's not a competition who can shout loudest. you don't want to boo your own chancellor. i'm sure your constituents would understand if you believe the chamber. let us continue. chancellor exchequer. >> mr. deputy speaker, the facts show the opposite to be true. the previous government borrowed 159 billion. this year the government is forecasted to borrow 114 billion pounds. that's 45 pounds a year less borrowing. borrowing from 108 billion next year and 97 billion in 2014, and 87 billion in the last year before holding 61 billion and 42 billion in the following two years and ensure complete transparency the odr published the number without the cash transfer. they show on the measure too borrow is forecast to fall. we admitted to a fiscal mandate that would balance the current budget over the following rolling five years, i can confirm that they we're on course to meet our fiscal mandate and meet it one year only. however, the likelihood of
the previous government, the previous government borrowed -- [yelling] >> order! order! order! >> we can't have all talk without the year. it's not a competition who can shout loudest. you don't want to boo your own chancellor. i'm sure your constituents would understand if you believe the chamber. let us continue. chancellor exchequer. >> mr. deputy speaker, the facts show the opposite to be true. the previous government borrowed 159 billion. this year the government is...
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Mar 22, 2013
03/13
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CSPAN2
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governments just aren't. but when it's your money and you're putting up $100 million, then you are at a point where you need to be very serious about that investment. madam president, i think these are some points i wanted to make because i think the american people are just tired of hearing washington say send more money. no, we're not going to cut spending in washington. we can't do that in -- and the budget that's on the floor now does not cut spending, does not reduce the deficit. it increases spending. it increases the deficit. it increases taxes by $1 trillion. what did they say in the budget? we're not going to cut spending here. there's nothing we can cut. the government's working. every dollar we get, every dollar we distribute is absolutely critical, cannot be contained. send more money. just send more money and don't complain, american people. i think the people are getting tired of that. they have a right to be tired of that. they should not send another dime here until we're on the right path. i
governments just aren't. but when it's your money and you're putting up $100 million, then you are at a point where you need to be very serious about that investment. madam president, i think these are some points i wanted to make because i think the american people are just tired of hearing washington say send more money. no, we're not going to cut spending in washington. we can't do that in -- and the budget that's on the floor now does not cut spending, does not reduce the deficit. it...
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Mar 19, 2013
03/13
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CSPAN2
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eye 76
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government. so for instance the state in new york just put out the proposal for navigant's and we we are working with the consumer advocates and the sikh community groups are all learning about that and making decisions about the navigator resources to reference their own connections. at the federal level, and the decisions just stay there. about 30 states will be doing either a partnership or have federally facilitated exchange which means advocates and those communities are -- is a two-step russ is. to come together with the state advocacy and state health advocates as people are planning together to say okay what does our state need but then needs to be clean again direct link with the federal government, and looking into the types of connections that mayra is describing and that will be a federal process, the navigator programs and there will be less resources proportionately than the state taste exchanges. so this additional work that will need to happen, the state level for the federal exch
government. so for instance the state in new york just put out the proposal for navigant's and we we are working with the consumer advocates and the sikh community groups are all learning about that and making decisions about the navigator resources to reference their own connections. at the federal level, and the decisions just stay there. about 30 states will be doing either a partnership or have federally facilitated exchange which means advocates and those communities are -- is a two-step...
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Mar 21, 2013
03/13
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CSPAN2
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, effective government, well-run government but limited government and free enterprise. and our country deserves to once and for all have that debate and stop hiding behind noagz of is this rich versus poor, those who have and those who have not. let's have a debate about growth. if we can grow this economy, we can protect america, and it will make the world a better place as well. and i yield the floor. a senator: madam president? the presiding officer: the senator from pennsylvania. mr. toomey: madam president, i yield myself such time as i may consume from the resolution. the presiding officer: the senator is recognized. mr. toomey: first, i want to commend the senator from florida. i couldn't agree more with the importance of focusing on economic growth and developing policies that maximize economic growth. i believe that we could have a tremendous economic recovery under way right now, but we don't, and the main reason is pause we have a dysfunctional government in washington that is giving us policies that are preventing economic growth. unfortunately, the budget r
, effective government, well-run government but limited government and free enterprise. and our country deserves to once and for all have that debate and stop hiding behind noagz of is this rich versus poor, those who have and those who have not. let's have a debate about growth. if we can grow this economy, we can protect america, and it will make the world a better place as well. and i yield the floor. a senator: madam president? the presiding officer: the senator from pennsylvania. mr....
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45
Mar 22, 2013
03/13
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FBC
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the government up front saying we're going to take your money. we're doing it secretly, and i think the honest approach is better. shibani: they make parallels in cypress, and what you mentioned happens here in the u.s., but the levy on bank deposits, this is what is causing a storm, and it's really getting people upset. are you concerned about any kind of precedence this could bring into the industry into europe and what it could do to banking confidence as a whole because when you start to have runs on banks and runs into atms as we see vis walls of and people concerned about whether or not they get their money, that creates panic. >> yeah, i think, you know, it could be a wakeup call. i own an offshore bank in the caribbean, and our business, since the cypress event, is up about 150%, so a lot of people are looking for safer places to park money because people are starting to think about whether deposit insurance is not all that it's marketed to be. the fdia insures 8 trillion in deposits, but 25 billion in reserves. my bank in the caribbean i
the government up front saying we're going to take your money. we're doing it secretly, and i think the honest approach is better. shibani: they make parallels in cypress, and what you mentioned happens here in the u.s., but the levy on bank deposits, this is what is causing a storm, and it's really getting people upset. are you concerned about any kind of precedence this could bring into the industry into europe and what it could do to banking confidence as a whole because when you start to...
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111
Mar 18, 2013
03/13
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FBC
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yours of the government's? the government is preventing the bank from giving it back to you. tracy: we were talking earlier. does anyone have any legal recourse? >> i don't know if anyone has any legal recourse. it is basically a socialist the island. here we would have a couple challenges. one is the equal protection challenge. it would be trading money in savings accounts differently than it is treating other pools of money. in the constitution requires that similar assets, similar people be treated in a similar way. you could argue that it is taking. it is not a tax but a seizure of something that is yours. what is being taxed? that your income, but your savings after you say been accumulated. adam: looking at the u.s. system. what is happening in cyprus. 100,000 euros are less if you have similar protection as we have a u.s. fdic. what good is that kind of insurance if they're saying that this insurance is not going to cost you should a bank go belly up? >> nothing. it's like what good is the constitution of the government seems to find a devious ways to get around it. wh
yours of the government's? the government is preventing the bank from giving it back to you. tracy: we were talking earlier. does anyone have any legal recourse? >> i don't know if anyone has any legal recourse. it is basically a socialist the island. here we would have a couple challenges. one is the equal protection challenge. it would be trading money in savings accounts differently than it is treating other pools of money. in the constitution requires that similar assets, similar...